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Side-by-side financial comparison of JBG SMITH Properties (JBGS) and NOODLES & Co (NDLS). Click either name above to swap in a different company.
JBG SMITH Properties is the larger business by last-quarter revenue ($127.6M vs $122.1M, roughly 1.0× NOODLES & Co). NOODLES & Co runs the higher net margin — -7.5% vs -35.7%, a 28.2% gap on every dollar of revenue. On growth, JBG SMITH Properties posted the faster year-over-year revenue change (-2.5% vs -4.1%). Over the past eight quarters, NOODLES & Co's revenue compounded faster (-1.2% CAGR vs -6.3%).
JBG SMITH PropertiesJBGSEarnings & Financial Report
JBG SMITH Properties is a publicly traded real estate investment trust based in Bethesda, Maryland.
Noodles & Company is an American fast-casual restaurant that offers international and American noodle dishes in addition to soups and salads. Noodles & Company was founded in 1995 by Aaron Kennedy and is headquartered in Broomfield, Colorado. The company went public in 2013 and recorded a $457 million revenue in 2017. In mid-2022, there were 458 Noodles & Company locations across 31 states.
JBGS vs NDLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $127.6M | $122.1M |
| Net Profit | $-45.5M | $-9.2M |
| Gross Margin | — | — |
| Operating Margin | -47.5% | -5.2% |
| Net Margin | -35.7% | -7.5% |
| Revenue YoY | -2.5% | -4.1% |
| Net Profit YoY | 24.0% | 32.8% |
| EPS (diluted) | $-0.76 | $-0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $127.6M | — | ||
| Q3 25 | $123.9M | $122.1M | ||
| Q2 25 | $126.5M | $123.8M | ||
| Q1 25 | $120.7M | — | ||
| Q4 24 | $130.8M | $122.8M | ||
| Q3 24 | $136.0M | $127.4M | ||
| Q2 24 | $135.3M | $121.4M | ||
| Q1 24 | $145.2M | $124.3M |
| Q4 25 | $-45.5M | — | ||
| Q3 25 | $-28.6M | $-9.2M | ||
| Q2 25 | $-19.2M | $-9.1M | ||
| Q1 25 | $-45.7M | — | ||
| Q4 24 | $-59.9M | $-6.8M | ||
| Q3 24 | $-27.0M | $-13.6M | ||
| Q2 24 | $-24.4M | $-6.1M | ||
| Q1 24 | $-32.3M | $-6.1M |
| Q4 25 | -47.5% | — | ||
| Q3 25 | -27.5% | -5.2% | ||
| Q2 25 | -18.4% | -5.2% | ||
| Q1 25 | -44.7% | — | ||
| Q4 24 | -53.6% | -3.9% | ||
| Q3 24 | -22.4% | -9.0% | ||
| Q2 24 | -24.3% | -3.4% | ||
| Q1 24 | -30.1% | -3.7% |
| Q4 25 | -35.7% | — | ||
| Q3 25 | -23.1% | -7.5% | ||
| Q2 25 | -15.2% | -7.3% | ||
| Q1 25 | -37.9% | — | ||
| Q4 24 | -45.8% | -5.5% | ||
| Q3 24 | -19.8% | -10.7% | ||
| Q2 24 | -18.0% | -5.1% | ||
| Q1 24 | -22.2% | -4.9% |
| Q4 25 | $-0.76 | — | ||
| Q3 25 | $-0.48 | $-0.20 | ||
| Q2 25 | $-0.29 | $-0.20 | ||
| Q1 25 | $-0.56 | — | ||
| Q4 24 | $-0.70 | $-0.15 | ||
| Q3 24 | $-0.32 | $-0.30 | ||
| Q2 24 | $-0.27 | $-0.14 | ||
| Q1 24 | $-0.36 | $-1.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.3M | $4.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.2B | $-38.9M |
| Total Assets | $4.4B | $280.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.3M | — | ||
| Q3 25 | $64.4M | $4.7M | ||
| Q2 25 | $61.4M | $1.4M | ||
| Q1 25 | $81.3M | — | ||
| Q4 24 | $145.8M | $3.3M | ||
| Q3 24 | $137.0M | $1.8M | ||
| Q2 24 | $163.5M | $1.3M | ||
| Q1 24 | $220.5M | $3.0M |
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | $-38.9M | ||
| Q2 25 | $1.3B | $-13.9M | ||
| Q1 25 | $1.6B | — | ||
| Q4 24 | $1.8B | $3.7M | ||
| Q3 24 | $1.9B | $9.6M | ||
| Q2 24 | $2.0B | $21.9M | ||
| Q1 24 | $2.1B | $27.2M |
| Q4 25 | $4.4B | — | ||
| Q3 25 | $4.4B | $280.6M | ||
| Q2 25 | $4.5B | $319.4M | ||
| Q1 25 | $4.7B | — | ||
| Q4 24 | $5.0B | $340.5M | ||
| Q3 24 | $5.2B | $346.3M | ||
| Q2 24 | $5.3B | $360.4M | ||
| Q1 24 | $5.4B | $368.1M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $73.3M | $4.3M |
| Free Cash FlowOCF − Capex | — | $-2.8M |
| FCF MarginFCF / Revenue | — | -2.3% |
| Capex IntensityCapex / Revenue | — | 5.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-7.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $73.3M | — | ||
| Q3 25 | $8.9M | $4.3M | ||
| Q2 25 | $18.8M | $4.0M | ||
| Q1 25 | $12.9M | — | ||
| Q4 24 | $129.4M | $5.8M | ||
| Q3 24 | $26.4M | $4.7M | ||
| Q2 24 | $23.8M | $7.0M | ||
| Q1 24 | $37.0M | $164.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | $-2.8M | ||
| Q2 25 | — | $1.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-1.3M | ||
| Q3 24 | — | $-4.5M | ||
| Q2 24 | — | $-1.6M | ||
| Q1 24 | — | $-15.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | -2.3% | ||
| Q2 25 | — | 0.9% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -3.5% | ||
| Q2 24 | — | -1.4% | ||
| Q1 24 | — | -12.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 5.8% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | 12.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JBGS
Segment breakdown not available.
NDLS
| Food And Beverage | $119.6M | 98% |
| Franchise | $2.5M | 2% |
